Halliburton (HAL) FY2020 results: revenue $14.4 billion, down 35.5% on the year
Halliburton Co. (HAL) reported revenue of $14.4 billion for fiscal 2020, the year ended 31 December 2020, down 35.5% on the year before. Net income was -$2.9 billion, and diluted earnings per share $-3.34. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2021.
Revenue
$14.4 billion
-35.5% on the year
FY2013FY2020
Operating margin
-16.9%
-2.0% a year earlier
FY2013FY2020
Net income
-$2.9 billion
FY2013FY2020
Diluted EPS
-$3.34
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
14,445
22,408
23,995
-35.5%
Cost of revenue
12,900
20,123
21,009
-35.9%
Gross profit
1,545
2,285
2,986
-32.4%
Gross margin
10.7%
10.2%
12.4%
Research and development
309
404
390
-23.5%
Operating income
-2,436
-448
2,467
Operating margin
-16.9%
-2.0%
10.3%
Interest expense
505
569
554
-11.2%
Pre-tax income
-3,220
-1,122
1,814
Income tax
-278
7.0
157
Effective tax rate
n/a
n/a
8.7%
Net income
-2,945
-1,131
1,656
Net margin
-20.4%
-5.0%
6.9%
Diluted EPS
-$3.34
-$1.29
$1.89
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,881
2,445
3,157
-23.1%
Capital expenditure
728
1,530
2,026
-52.4%
Free cash flow
1,153
915
1,131
+26.0%
Free cash flow margin
8.0%
4.1%
4.7%
Cash from investing
-486
-1,445
-1,993
Cash from financing
-1,007
-695
-1,419
Depreciation and amortisation
1,058
1,625
1,606
-34.9%
Buybacks
100
100
400
0.0%
Dividends paid
278
630
630
-55.9%
Dividend per share
$0.32
$0.72
$0.72
-56.2%
Diluted shares, weighted
881m
875m
877m
+0.7%
Shares outstanding at period end
885m
878m
871m
+0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,974
8,012
9,522
-37.9%
Non-controlling interest
9.0
13.0
22.0
-30.8%
Debt
9,827
10,327
10,457
-4.8%
Operating lease liabilities
758
825
0.0
-8.1%
Other liabilities
5,112
6,200
5,981
-17.5%
Total liabilities and equity
20,680
25,377
25,982
-18.5%
Fixed assets
4,325
7,310
8,873
-40.8%
Goodwill
2,804
2,812
2,825
-0.3%
Cash and equivalents
2,563
2,268
2,008
+13.0%
Receivables
3,071
4,577
5,234
-32.9%
Inventory
2,349
3,139
3,028
-25.2%
Other assets
5,568
5,271
4,014
+5.6%
Total assets
20,680
25,377
25,982
-18.5%
10-K for the year ended 31 December 2020, filed 5 February 2021: the filing.